Ankara Plans to Develop Gas Reserves on Bulgaria’s Continental Shelf
Turkey intends to sign an agreement next month that will allow the state-owned energy company Turkish Petroleum Corporation (Türkiye Petrolleri Anonim Ortaklığı, TPAO) and a foreign partner to conduct exploration activities in a section of the Black Sea located off the coast of neighboring Bulgaria, the Turkish Ministry of Energy told Reuters.
“We are planning to sign an agreement in the Bulgarian economic zone. Most likely, next month the Turkish Petroleum Corporation and a foreign company will finalize a deal for a block in Bulgarian waters,” the ministry stated.
Progress in the Black Sea
Turkey continues to make solid progress in developing its own Black Sea energy resources. For example, daily methane production at the country’s flagship Sakarya gas field in the Black Sea has reached approximately 9.5 million cubic meters. According to Reuters, Sakarya now accounts for around 6.6 percent of Turkey’s total annual gas consumption, which is estimated at 53 billion cubic meters.
Expanding Turkey’s Energy Footprint
As reported earlier by Neftegaz i Kapital, the Turkish government has expressed interest in developing two new offshore fields in the Caspian Sea region, as well as pursuing new hydrocarbon exploration projects in both northern and southern Iraq.
In Somalia, where Turkey recently signed an agreement on oil and gas exploration, seismic data collection is expected to be completed by the end of May 2025, with a decision on drilling likely to be made by the end of the year.
In addition, Turkey has added three onshore blocks to its portfolio of licenses for offshore development near the Horn of Africa. The country has also signed agreements with Pakistani companies for joint participation in tenders for offshore exploration licenses in Pakistan.
Furthermore, Ankara is seeking to establish strategic partnerships for the development of oil and gas fields in Turkmenistan.
